Connect with us

Tech News

100 organizations to accelerate blockchain deployment with World Economic Forum

Avatar photo

Published

on

Leaders from the global supply chain and logistics industry, the world’s largest ports, blockchain start-ups, importers/exporters and civil society have teamed up with the World Economic Forum, the International Organization for Public-Private Cooperation, and over 20 governments to accelerate blockchain deployment across supply chains.

Currently, the supply chain industry is fragmented, with parties adopting a siloed approach. Blockchain and distributed ledger technology (DLT) could bring standardization and transparency, but this nascent technology is prone to hype. The Forum’s Redesigning Trust with Blockchain in the Supply Chain project is a new initiative to help supply chain decision-makers cut through the blockchain hype and ensure that the technology is deployed in an interoperable, responsible and inclusive way.

Over 100 organizations and experts are on the team, representing large shippers, supply chain providers and governments. They include Maersk, Hitachi, Mercy Corps, Korea Customs Service, Llamasoft and Ports of Los Angeles, Oakland, Valencia and Rotterdam. The multistakeholder group will co-design an open-source roadmap or toolkit to guide supply chain decision-makers towards blockchain deployment. It will highlight technical and non-technical drivers of success, risks and recommendations as well as requirements.

“As blockchain technology is so new, supply chain decision-makers need clear guidelines, tools and frameworks to help them maximize the benefits and minimize the risks of this technology,” said Nadia Hewett, project lead, Blockchain and Distributed Ledger Technology, World Economic Forum. “This toolkit will be built by the industry and piloted, so we can see what works and what does not. We are going to piece together the puzzle, so others don’t have to start from scratch.”

“The project has created a broad and diverse community of stakeholders to share experiences and develop a toolkit for innovators and decision-makers to navigate the complex policy, technical and commercial issues that arise from digital transformation of the supply chain,” said David Libatique, Deputy Executive Director, Port of Los Angeles.

Bernhard Kowatsch, Head, Innovation Accelerator, World Food Programme, said: “A big part of WFP’s core operations revolve around logistics and supply chain, distributing food and other life-saving items to more than 90 million people in 83 countries around the world. Becoming a part of the Forum’s Redesigning Trust: Blockchain for Supply Chain community has provided us with the opportunity to share real-world challenges and use cases, making invaluable connections between the private and public sectors to assist us in the development of our own innovative blockchain for supply chain projects.”

“We believe that blockchain is a promising technology for several industry verticals, including the financial sector, distribution and logistics, among others,” said Norihiro Suzuki, Ph.D., Vice President and Executive Officer, Chief Technology Officer, and General Manager of the Research & Development Group, Hitachi, Ltd. “Hitachi is actively contributing to the development of platforms through open source software communities. We are looking forward to working with the World Economic Forum to bring together these communities to explore the future of supply chains and data flow economy.”

The World Economic Forum will be releasing monthly white papers on the findings from the community. The recommendations will include guidelines on data privacy, security, creation and use of data, public versus private platforms, interoperability, digital identity and signatures. Supporting an approach that considers the entire ecosystem promises to ensure an inclusive perspective and result that will benefit all stakeholders.

Industry ready for sea change

Analysis in the first white paper points to a mindset shift in business from protective and silo-thinking towards a willingness to try new collaborative models. Competing ports have started to share data to optimize calls of shipping liners in the North Europe area. The ports also expressed willingness to expand their model to other ports. Similarly, and beyond the shipping industry, the world’s four largest agriculture companies have partnered to digitize international grain trading.

“As digital technologies such as blockchain increasingly encourage higher levels of trust among supply chain partners, they will have effects on processes in the physical world as well,” Hewett said. “As a result, fragmentation within and across industries could diminish, the occurrence of errors and exceptions could decline, and operators could require fewer resources to complete the same tasks.”

Continue Reading
Comments

Tech News

EU and Singapore launch Digital Partnership

Avatar photo

Published

on

EU and Singapore are strengthening their cooperation as strategic partners. Following the announcement of a new Digital Partnership between the EU and Singapore by President von der Leyen and Prime Minister Lee at the EU-ASEAN summit in December 2022, Commissioner for the Internal Market Thierry Breton and Singapore Minister of Industry and Trade S Iswaran signed a Digital Partnership that will strengthen cooperation between the EU and Singapore on digital technology areas. Executive Vice-President Dombrovskis and Minister Iswaran also signed Digital Trade Principles. A key deliverable of the Digital Partnership, the Principles seek to facilitate the free flow of goods and services in the digital economy, while upholding privacy.

The EU-Singapore Digital Partnership reflects the dynamic relation the EU has built with an open and outward-oriented economy and a vibrant logistics and financial hub in South-East Asia. Both sides have agreed to work together on critical areas such as semiconductors, trusted data flows and data innovation, digital trust, standards, digital trade facilitation, digital skills for workers, and the digital transformation of businesses and public services. This Partnership is in line with the 2030 Digital Compass, the European way for the Digital Decade and represents another key step in the implementation of the EU’s Indo-Pacific Strategy.

The Digital Partnership will, for example:

  • Enhance research cooperation in cutting-edge technologies such as Artificial Intelligence (AI) and semiconductors;
  • Promote cooperation in regulatory approaches such as in the field of AI and Electronic Identification (eID);
  •  Foster investments in resilient and sustainable digital infrastructures, including data centres and submarine telecommunications cables for connectivity between the EU and Southeast Asia;
  • Ensure trusted cross border data flows in compliance with data protection rules and other public policy objectives;
  • Promote information exchange and cooperation in the field of cybersecurity;
  • Build alliances in international organisations and standardisation fora;
  • Facilitate digital trade, including by working towards joint projects such as paperless trading, electronic invoicing, electronic payments, electronic transactions framework.

Following the signature of the Partnership, an inaugural Digital Partnership Council was held, which set the priority areas of cooperation for the year ahead. It was co-chaired by Commissioner for the Internal Market Thierry Breton and Singapore Minister of Industry and Trade S Iswaran. Singapore and the EU agreed on key priorities of implementation for 2023: exploring common approaches in e-identification and in Artificial Intelligence governance as well as working on projects to facilitate digital trade and SME’s digital transformation.

The signature of the Digital Trade Principles represents a first tangible outcome of our digital partnership and a key step in the implementation of the EU’s Indo-Pacific Strategy.  The principles demonstrate that the EU and Singapore share the same commitment to an open, fair and competitive digital economy, without unjustified trade barriers.

Background

The EU-Singapore Digital Partnership is the third signed with key partners in Asia. The first digital partnership was concluded in May 2022 with Japan during the 28th EU-Japan Summit, and the second with the Republic of Korea in November 2022. The Partnerships establish an annual high-level meeting – the Digital Partnership Council – led by Commissioner Breton on the EU side and the relevant Minister for each of the three partner countries. The Digital Partnership Councils provide the political steer, set the priorities for implementation and take stock of the progress achieved.

Continue Reading

Tech News

Satya Nadella Says AI Golden Age Is Here and ‘It’s Good for Humanity’

Avatar photo

Published

on

The cutting-edge chatbot ChatGPT is capturing the world’s imagination. The new artificial intelligence site amassed 1 million users in just five days after its recent launch. It is but one of a dozen AI-driven so-called “killer apps” that will transform human productivity and the future of work.

ChatGPT answers complex questions via short prompts on a vast array of topics, and even writes lyrics and poetry. Underpinned by generative models such as GPT-3 and GPT-3.5, it is the most conspicuous example of technology dubbed generative AI.

Satya Nadella, Microsoft Chairman and CEO, in a session at the Annual Meeting, told Klaus Schwab, Founder and Executive Chairman, World Economic Forum, that a golden age of AI is under way and will redefine work as we know it.

“The future of work is not just about technology and tools,” he said. It’s about new management practices and sensibilities to the workplace.”

“Technology will provide more and more ways to bring people together,” he said. Public-private cooperation itself is moving virtual. The Forum’s Global Collaboration Village, for example, harnesses the power of the metaverse as a platform for collaborative, inclusive and effective international action.

“Microsoft is opening up access to new AI tools like ChatGPT,” said Nadella. “I see these technologies acting as a co-pilot, helping people do more with less.”

He provided two anecdotes of recent use cases of GPT technology. The first is an expert coder from Silicon Valley who improved their productivity by 80% by using the model to help write better code faster. The second was an Indian farmer who was able to use a GPT interface to access an opaque government programme via the internet, despite only speaking a local dialect.

“AI is just at the beginning of the S-curve,” said Nadella. The near-term and long-term opportunities are enormous, he added.

Looking ahead, he said Microsoft intends to lead on quantum computing. Microsoft has all the building blocks for a next-generation quantum computer. He said: “Microsoft will achieve quantum supremacy and aims to build a general-purpose quantum computer.”

On safety and security, Nadella said the operating principle for protecting critical infrastructure should be to assume the worst – “have zero trust”. “Safety and security needs to be included right at the design stage,” he said.

Sustainability is at the core of the business. “By 2050 Microsoft aims to not just be carbon-neutral but carbon-negative.” Last year the tech giant released “Cloud for Sustainability”, bringing together a growing set of environmental, social and governance (ESG) capabilities across the Microsoft cloud portfolio plus solutions from the firm’s global ecosystem.

Continue Reading

Tech News

Cybercrime Initiative to Boost Coordination between Private Sector and Law Enforcement

Avatar photo

Published

on

In an effort to tackle rising cybercrime levels, the World Economic Forum launched today at the Annual Meeting 2023 an initiative to map cybercriminal activities and identify joint public and private sector responses.

Building on the expertise of the Forum’s Partnership against Cybercrime, the Cybercrime Atlas initiative will provide a platform for leading cybercrime investigators, national and international law enforcement agencies, and global businesses to share knowledge, generate policy recommendations and identify opportunities for coordinated action to fight cyberthreats.

“The Cybercrime Atlas is a collaborative research initiative that gathers and collates information about the cybercriminal ecosystem and major threat actors operating today,” said Jeremy Jurgens, Managing Director, World Economic Forum. “The insights generated will help promote opportunities for greater cooperation between the private sector and law enforcement to address cybercrime.”

Cybercrime, such as the ransomware attack on Colonial Pipeline in May 2021 that caused US President Joe Biden to declare a state of emergency, is a threat to national security, public organizations and businesses of all sizes. Despite the amount of digital data collected on cybercriminal activities worldwide, the effort to fight it is often uncoordinated, disjointed and dispersed. The Cybercrime Atlas aims to map the cybercrime landscape, covering criminal operations, structures and networks.

First announced at San Francisco’s RSA Conference in June 2022, the Cybercrime Atlas has benefited from a year of pro bono analysis of 13 criminal groups by cybercrime investigators. Their approach and findings have been welcomed by law enforcement agencies.

“This initiative underlines the need for an enhanced multi-sector approach to combat the increasing cybercrime threat,” said Jürgen Stock, Secretary-General, International Criminal Police Organization (INTERPOL). “A global solution must include private sector insights to enable law enforcement to prevent, detect, investigate and disrupt cybercrime.”

The secretariat for the Cybercrime Atlas initiative will be hosted by the World Economic Forum for the next 2-3 years, with the support of Fortinet, Microsoft, PayPal and Santander, until it is sufficiently established to become an independent platform.

“The Cybercrime Atlas is an important initiative that will aid industry, law enforcement, and government agencies by providing a first-of-its-kind visibility to disrupt cybercriminals across their ecosystem and infrastructure,” said Ken Xie, Chief Executive Officer, Fortinet. “A global and unified effort will make it easier to get beyond the obstacles that shield cybercriminals.”

The Forum’s Partnership against Cybercrime initiative brings together a dedicated community to drive momentum for a public-private partnership to combat cybercrime.

“Cybercriminals work in the shadows and exploit vulnerabilities to inflict devastating attacks. The Cybercrime Atlas provides an important forum that brings the public and private sectors together to share actionable information and leverage cross-sector data, capabilities and expertise, crucial to disrupting cybercrime quickly, and at scale,” said Brad Smith, Vice-Chair and President, Microsoft.

“To mitigate and disrupt global cybercrime in today’s interconnected world, we need robust platforms to share intelligence and facilitate more meaningful institutional collaboration,” added Assaf Keren, Chief Information Security Officer and Vice-President, Enterprise Cyber Security, PayPal. “The Cybercrime Atlas represents a key next step in this work and an opportunity to unite global businesses, law enforcement and experts around concrete opportunities to protect the world’s citizens and their safety.”

“Given the global nature of cyberthreats, increasingly public-private collaboration is the best way to combat cybercrime,” said Dirk Marzluf, Group Chief Operating and Technology Officer, Banco Santander. “Organizations must look beyond their perimeter and combine efforts and resources with businesses, law enforcement and government.”

Continue Reading

Publications

Latest

World News55 mins ago

India rejected the collective West’s destructive attempts to polarise the world order

Taken together, the speeches made by Prime Minister Narendra Modi and External Affairs Minister S. Jaishankar at the Voice of...

World News2 hours ago

February 19: An anti-interventionist coalition to March to White House from Lincoln Memorial

On February 19, Washington, DC, will witness a protest against the war in Ukraine that marks a sharp departure from...

New Social Compact7 hours ago

Education For All – Our Investment in Humanity

Authors: Rt. Hon. Gordon Brown and Yasmine Sherif Millions of children are experiencing a world being ripped apart. Armed conflicts,...

Economy9 hours ago

The suffocating economy of Iran

Iran’s economy is on a roller coaster. The past year saw a dramatic rise in inflation rates and a historic...

Southeast Asia10 hours ago

The Irony of Indonesian Media Disaster Communication

Indonesia occupies the fourth position as the most populous country in the world, with a projected population that will continue...

East Asia12 hours ago

Xi Jinping’s visit to Russia and America’s hostile policy towards China-Russia rapprochement

The visit of Chinese President “Xi Jinping” to Russia will be organized, which will most likely take place after the...

Economy14 hours ago

Prospects of Vietnam’s Economic Growth in 2023

The ongoing  war in Ukraine and increasing commodity prices across the world have impacted the developing countries. Countries in Asia...

Trending